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Financial News: South Korea Industrial Output Climbs 1.6% In July

South Korea Industrial Output Climbs 1.6% In July

08/30/2020 - 19:45:00 (RTTNews)

(RTTNews) - Industrial production in South Korea gained a seasonally adjusted 1.6 percent on month in July, Statistics Korea said on Monday - shy of expectations for an increase of 1.9 percent and down from 7.2 percent in June.

On a yearly basis, industrial production sank 2.5 percent - again missing forecasts for a drop of 1.2 percent after easing 0.5 percent in the previous month.

The index of all industry production added 0.1 percent on month but sank 1.6 percent on year. That follows the 4.1 percent monthly gain and the 0.7 percent yearly increase in June.

The Manufacturing Production Index gained 1.8 percent on month but shed 2.4 percent on year. The Manufacturing Shipment Index rose 1.6 percent on month but dropped 4.2 percent on year. The Manufacturing Inventory Index rose 0.2 percent on month and 0.1 percent on year.

The Production Capacity Index was flat on month but increased 1.1 percent on year. The Index of Capacity Utilization Rate in July increased 2.6 percent on month but sank 6.1 percent on year.

The Manufacturing Average Capacity Utilization Rate in July marked 70.0 percent, up 1.8 percentage points from the previous month. The Index of Services in July rose 0.3 percent on month but slipped 1.3 percent on year.

The Retail Sales Index in July skidded 6.0 percent on month but added 0.5 percent on year. The Equipment Investment Index lost 2.2 percent on month but climbed 6.7 percent on year.

The Domestic Machinery Shipment Index in July increased 5.7 percent on year. The value of Domestic Machinery Orders Received increased 2.3 percent on year.

The value of Construction Completed at constant prices gained 1.5 percent on month but fell 0.6 percent on year. The value of Construction Orders Received at current prices skyrocketed 81.5 percent on year.

The Composite Coincident Index in July increased 0.5 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, rose 0.2 points from the previous month.

The Composite Leading Index in July increased 0.7 percent from the previous month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, gained 0.4 points from the previous month.

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